FLSmidth, a major mining technology and service supplier headquartered in Copenhagen, Denmark, improved its profitability in 2024 while progressing its transformation agenda.
Group Mining Service order intake increased by 2% compared to 2023, reflecting the continued stability of the mining service market. There were also additional improvements in underlying profitability with Mining Adjusted EBITA margin of 13.1%.
In further 2024 results, FLSmidth Cement order intake decreased by 22% due to recent divestments and continued pruning of the product portfolio. Cement Adjusted EBITA margin of 9.1% resulting from successful execution of strategic initiatives. A Group EBITA margin of 9.8% and net result of DKK 1,030 million were the highest levels in over a decade. FLSmidth achieved better-than-expected cash flow performance with cash flow from operations of DKK 640mn.
FLSmidth reports continued progression on all its science-based sustainability targets.
FLSmidth Group CEO Mikko Keto said: “This year’s annual report highlights the meaningful progress we have made in advancing our strategic initiatives, streamlining our operations and enhancing efficiency across the business. Thanks to these efforts, we have achieved strong improvements in the underlying profitability of both the Mining and Cement businesses. Additionally, we have made significant progress in winding down Non-Core Activities, reducing the backlog by 94% since the establishment of the segment. These achievements are a testament to the hard work and dedication of our employees, and we can all be proud of what we have accomplished in the year. The results we have delivered in 2024 provide a solid foundation for the year ahead as we continue our transformation and remain committed to delivering consistent performance through business excellence.”
